Rivian forges ahead
While Tesla fans continue to wait for the cyber truck, a US start-up has overtaken the electric car pioneer on the left and launched the first electric pickup truck.
Pickups are a common sight on the roads of the United States. But an electric version of the popular US vehicles is not yet on the market, even though many carmakers are planning hotly in this regard. Both General Motors and Ford have presented plans for a pickup truck. Still, pickup fans may have the highest expectations for electric car pioneer Tesla, which has set the bar high with its extraordinary Cybertruck. However, Tesla fans will probably have to wait until 2022, as the start of production for the Cybertruck was postponed in the summer. And potential buyers of electric pickups are also waiting in vain for the announced vehicles from GM and Ford: The MC Hummer EV from General Motors is to be launched at the end of the year, the Ford F-150 Lightning is not due until 2022.
Trade with the Best cTrader Forex Brokers
But what the big carmakers haven’t managed so far, a smaller US start-up has been able to realise: Rivian has put the first electric pickup truck on the road. The first production model of the R1T has left the production halls at the Rivian plant in the US state of Illinois, as Rivian CEO Robert RJ Scaringe announced on Twitter. Rivian has thus reached a decisive milestone ahead of its biggest rivals in what is expected to be a fiercely competitive SUV market.
The vehicle was worked on for over ten years. The Launch Edition will be produced first, and Rivian plans to serve pre-orders first until January. Buyers who have already placed pre-orders in anticipation of a market launch will have to put 67,500 US dollars, about 75,000 euros, on the table for the electric pickup.
The first vehicles are expected to travel just under 500 kilometres on a full battery charge, with other versions, including a vehicle with a range of around 644 kilometres, to follow later. According to reports, it will take 50 minutes to charge the battery to 80 per cent of its capacity.
However, how many vehicles Rivian has already produced and the plans for ramping up production have remained open so far.
Airbus, Porsche, Zalando & Co new in the DAX
In the new DAX 40, the newcomers come into focus today. Ten companies are new on the price list: aircraft manufacturer Airbus, chemicals trader Brenntag, cooking box supplier Hellofresh, holding company Porsche, sporting goods manufacturer Puma, biotechnology and diagnostics company Qiagen, pharmaceutical and laboratory supplier Sartorius, medical technology group Siemens Healthineers, flavours and fragrances manufacturer Symrise, and online fashion retailer Zalando.
Prudential plans billion-dollar capital increase in Hong Kong
British insurance group Prudential intends to raise up to 22.49 billion Hong Kong dollars in a capital increase to repay high-yield debt maturing in six months and invest in growth.
Prudential plans to place 130.78 million new shares in the Hong Kong issue. The maximum price per share would be HK$172 per share. The final price is to be set on 25 September, and the first day of trading of the new shares on the Hong Kong Stock Exchange is scheduled for 4 October.
“The board believes that the increase in the Asian shareholder base and the liquidity of the shares in Hong Kong will bring clear benefits to the group and its shareholders as a whole,” Prudential said.
On the business outlook, the group said significant Covid-19-related constraints remain in many markets, including Indonesia, Malaysia and Thailand. It also said there was still uncertainty surrounding the reopening of the border between Hong Kong and mainland China.
“Prudential is now fully focused on the long-term structural growth opportunities in Asia and Africa,” said CEO Mike Wells. “The share offering will preserve and enhance Prudential’s financial flexibility in the face of multiple opportunities to invest for growth.”
Shares in Prudential reacted with sharp losses on Monday to plans for a capital increase by the British insurer. The shares fell to their lowest level since the end of July, trading down 8.90 per cent at one point at 1,326p. This put them at the bottom of the Stoxx Europe 50 and almost at the bottom of the FTSE 100 index.
Steff has been actively researching the financial services, trading and Forex industries for several years.
While putting numerous brokers and providers to the test, he understood that the markets and offers can be very different, complex and often confusing. This lead him to do exhaustive research and provide the best information for the average Joe trader.